Dependency of the Russian industry on imports and the strategy of import substitution industrialization

Abstract

In the context of slowly increasing domestic demand, import substitution industrialization is urged to become the driver of economic growth already in the short term. Replacement of foreign import production with domestic equivalents will be essentially determined by the character of the economy dependency on imports. The paper proposes the analysis of perspectives and potential ways of addressing the issue of import substitution in order to lessen the degree of Russian economy dependency on imports.